
% Table created by stargazer v.5.2.3 by Marek Hlavac, Social Policy Institute. E-mail: marek.hlavac at gmail.com
% Date and time: Wed, Nov 23, 2022 - 03:09:54 PM
\begin{table}[!htbp] \centering 
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\begin{tabular}{@{\extracolsep{3pt}}lcccccccc} 
\\[-1.8ex]\hline 
\hline \\[-1.8ex] 
 & \multicolumn{8}{c}{\textit{Dependent variable:}} \\ 
\cline{2-9} 
\\[-1.8ex] & \multicolumn{8}{c}{Lobbying Legislative Activity$_{t}$} \\ 
\\[-1.8ex] & (1) & (2) & (3) & (4) & (5) & (6) & (7) & (8)\\ 
\hline \\[-1.8ex] 
 $Donation_{t}$ & 0.044$^{***}$ & 0.043$^{***}$ & 0.045$^{***}$ & 0.034$^{***}$ & 0.042$^{***}$ & 0.041$^{***}$ & 0.043$^{***}$ & 0.028$^{***}$ \\ 
  & (0.006) & (0.006) & (0.006) & (0.006) & (0.006) & (0.006) & (0.005) & (0.005) \\ 
  & & & & & & & & \\ 
 $Donation_{t-1}$ & 0.041$^{***}$ & 0.041$^{***}$ & 0.042$^{***}$ & 0.036$^{***}$ & 0.042$^{***}$ & 0.042$^{***}$ & 0.043$^{***}$ & 0.033$^{***}$ \\ 
  & (0.005) & (0.006) & (0.005) & (0.006) & (0.005) & (0.005) & (0.005) & (0.005) \\ 
  & & & & & & & & \\ 
 $Donation_{t-2}$ & 0.028$^{***}$ & 0.029$^{***}$ & 0.030$^{***}$ & 0.025$^{***}$ & 0.031$^{***}$ & 0.032$^{***}$ & 0.033$^{***}$ & 0.026$^{***}$ \\ 
  & (0.004) & (0.004) & (0.004) & (0.005) & (0.004) & (0.004) & (0.004) & (0.004) \\ 
  & & & & & & & & \\ 
 $Donation_{t-3}$ & 0.016$^{***}$ & 0.016$^{***}$ & 0.017$^{***}$ & 0.015$^{***}$ & 0.017$^{***}$ & 0.018$^{***}$ & 0.020$^{***}$ & 0.015$^{***}$ \\ 
  & (0.003) & (0.003) & (0.003) & (0.004) & (0.004) & (0.004) & (0.003) & (0.004) \\ 
    & & & & & & & & \\ 
  $Majority_{t}$ & 0.007$^{***}$ & 0.005$^{***}$ & 0.004$^{***}$ & 0.004$^{***}$ & 0.012$^{***}$ & 0.010$^{***}$ & 0.008$^{***}$ & 0.009$^{***}$ \\ 
  & (0.0004) & (0.0004) & (0.0004) & (0.0004) & (0.001) & (0.001) & (0.001) & (0.001) \\ 
  & & & & & & & & \\ 
 $Democrat_{t}$ & 0.004$^{***}$ & 0.002$^{***}$ & 0.063$^{***}$ & 0.063$^{***}$ & 0.005$^{***}$ & 0.002$^{***}$ & 0.115$^{***}$ & 0.122$^{***}$ \\ 
  & (0.0005) & (0.0003) & (0.003) & (0.003) & (0.001) & (0.001) & (0.006) & (0.007) \\ 
  & & & & & & & & \\ 
 $Committee\;Chair_{t}$ & $-$0.003$^{***}$ & $-$0.002$^{***}$ & 0.0001 & 0.0001 & $-$0.004$^{***}$ & $-$0.003$^{***}$ & 0.001$^{*}$ & 0.001 \\ 
  & (0.0003) & (0.0003) & (0.0003) & (0.0003) & (0.001) & (0.001) & (0.001) & (0.001) \\ 
  & & & & & & & & \\ 
 $Powerful\;Committee_{t}$ & 0.010$^{***}$ & 0.010$^{***}$ & 0.011$^{***}$ & 0.011$^{***}$ & 0.018$^{***}$ & 0.017$^{***}$ & 0.021$^{***}$ & 0.021$^{***}$ \\ 
  & (0.001) & (0.001) & (0.001) & (0.001) & (0.002) & (0.001) & (0.001) & (0.001) \\ 
  & & & & & & & & \\ 
 $Logged \;Sales_{t}$ &  &  &  &  & 0.001 & 0.007$^{***}$ & 0.007$^{***}$ & 0.006$^{**}$ \\ 
  &  &  &  &  & (0.002) & (0.003) & (0.003) & (0.002) \\ 
  & & & & & & & & \\ 
 $Logged\;Employees_{t}$ &  &  &  &  & 0.043$^{***}$ & 0.060$^{***}$ & 0.060$^{***}$ & 0.053$^{***}$ \\ 
  &  &  &  &  & (0.012) & (0.013) & (0.013) & (0.014) \\ 
  & & & & & & & & \\ 
\hline \\[-1.8ex] 
Firm FEs & $\checkmark$ & $\checkmark$ & $\checkmark$ &  & $\checkmark$ & $\checkmark$ & $\checkmark$ &  \\ 
Year FEs &  & $\checkmark$ & $\checkmark$ & $\checkmark$ &  & $\checkmark$ & $\checkmark$ & $\checkmark$ \\ 
Politician FEs &  &  & $\checkmark$ &  &  &  & $\checkmark$ &  \\ 
Firm-Politician FEs &  &  &  & $\checkmark$ &  &  &  & $\checkmark$ \\ 
Observations & 16,434,909 & 16,434,909 & 16,434,909 & 16,434,909 & 7,442,775 & 7,442,775 & 7,442,775 & 7,442,775 \\ 
Adjusted R$^{2}$ & 0.568 & 0.570 & 0.572 & 0.638 & 0.581 & 0.584 & 0.589 & 0.646 \\ 
\hline 
\hline \\[-1.8ex] 
\textit{Note:}  & \multicolumn{8}{l}{$^{*}$p$<$0.1; $^{**}$p$<$0.05; $^{***}$p$<$0.01} \\ 
\end{tabular} 
}
  \caption{\textbf{Firm and Employee Donations and Lobbying of Specific Politicians, First-Time-Ever Donation, with Lagged Donations}: The level of analysis is the firm-politician-year, and the data include all publicly traded manufacturing firms (NAICS 2-digit codes 31-33) and members of Congress between 2008 and 2017. The dependent variable is a dummy which equals 1 if firm $i$ lobbied the legislative activity of a politician $j$ in year $t$. $Donation_{t-k}$ equals 1 if firm $i$ donated to a politician $j$ for the first time in year $t$ and up to year $t-k$, and 0 otherwise. The coefficients come from ordinary least squares regressions, using combinations of firm, politician, year, and firm-politician fixed effects. The columns 5 to 8 include time-varying politician covariates (party, majority status, committee chairmanship, membership of powerful committee), and firm covariates (logged sales, logged number of employees). The standard errors are clustered by firm.} 
  \label{tab:don_lob_linear_controls_lagdon} 
\end{table} 
